SMA 20 of Daily chart alamost matches with SMA 480 of hourly chart.
SMA20 of daily chart was a great trend detector for the pair recently so I'll use 480 in hourlt chart.
According the SMA20 we are still bullish.
By deeper look at Daily chart a bullish channel could be seen that proves bullish trend. Also a great SNR zone is obviously clear in daily chart.
I think last week was just a correction.
By looking at 1H zone, we could see conflux of mighty SMA480, Camarilla pivot level of S3, Daily S&R zone and also a strong Delta Volume important zone.
There is a high probability of rejection from the zone.
About the delta volume: There were strong buyers in last bullish move, but in some points there were slightly stronger sellers, market tends to reverse from those critical points.
Looking at IG sentiment factor we'll get that sentiment indicators worked reversely in recent weeks. So strong sellers can not hesitate me.
Market may avoid sharp moves before FOMC meeting at Wednesday.
TP1 : 1.116
TP2 : 1.121
TP3 : 1.130
SMA20 of daily chart was a great trend detector for the pair recently so I'll use 480 in hourlt chart.
According the SMA20 we are still bullish.
By deeper look at Daily chart a bullish channel could be seen that proves bullish trend. Also a great SNR zone is obviously clear in daily chart.
I think last week was just a correction.
By looking at 1H zone, we could see conflux of mighty SMA480, Camarilla pivot level of S3, Daily S&R zone and also a strong Delta Volume important zone.
There is a high probability of rejection from the zone.
About the delta volume: There were strong buyers in last bullish move, but in some points there were slightly stronger sellers, market tends to reverse from those critical points.
Looking at IG sentiment factor we'll get that sentiment indicators worked reversely in recent weeks. So strong sellers can not hesitate me.
Market may avoid sharp moves before FOMC meeting at Wednesday.
TP1 : 1.116
TP2 : 1.121
TP3 : 1.130
Comment:
Comment:
The German Manufacturing Purchasing Managers' Index (PMI) is extremely lower than expected wait for market fluctuations then enter the market.
Trade closed: stop reached
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